Bolivia has seen a sharp rise in crypto activity, with $430 million in digital asset transactions recorded through official channels over the past year — a 630% increase.
The surge follows regulatory changes in 2024 that allowed banks to route crypto payments, making Bolivia one of Latin America’s fastest adopters of regulated digital finance.
Most of the volume came from individual users, and Binance-linked rails handled the majority of transfers. The central bank’s data excludes peer-to-peer activity, suggesting the real figure could be even higher.
Amid a worsening dollar shortage, the government has extended crypto use to public institutions. The national energy company now pays for fuel imports with digital assets, highlighting how crypto is being used to navigate macroeconomic strain.
In parallel, authorities are introducing guardrails to manage the risks of rapid adoption. A new decree defines how crypto platforms will be licensed, enforces anti-money laundering rules, and establishes wallet monitoring obligations. Educational workshops are also being rolled out nationwide, teaching citizens how to manage private keys, recognize scams, and understand volatility.
As the legal structure matures, Bolivia may be positioning itself as a regional crypto leader — not just out of necessity, but as a long-term strategy to modernize its financial system and reduce dependence on the U.S. dollar.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/bolivia-turns-to-crypto-as-dollar-shortage-deepens/